Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.049%

Price spread now: Bybit against Binance+0.033%7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1291.290% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 7 days+0.132%+$13 · spread now +0.033%, 7d avg +0.077%

Together, before fees+0.173%+$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.044% cheaper against Binance than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SAGAUSDT	0.04166	0.0100	pay 0.0050% / 4h	3h 47m	$20.4M	$98.2M	20x
Short	Bybit SAGAUSDT	0.04167	0.0100	get 0.0050% / 4h	3h 47m	$4.0M	$15.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee BybitbpOrdersPrice spread, now +0.033%Rate

Funding earned: $0
Price spread: +0.033% → +0.077%: −$4.43
Slippage, 4 orders: −$108.04
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$133.46
Costs to cover: 1.290%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Bybit: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Binance live order book, 10 min ago	2.43 bp	24.0 bp −$24	103.0 bp −$1,030	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.72 bp	41.6 bp −$42	144.9 bp −$1,449	doesn't fit	doesn't fit

SAGA on 14 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SAGAUSD	−0.0843%	1h	0.04158	−0.205%	$79K	$545K	20x	as long as short
KuCoin SAGAUSDTM	−0.0004%	4h	0.04167	+0.021%	$823K	$2.6M	20x	as long as short
BloFin SAGA-USDT	+0.0061%	4h	0.04167	+0.021%	$1.0M	$293K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.04139	−0.652%	$2.3M	$255K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04165	−0.020%	$75K	$695K	5x	as long as short
Binance SAGAUSDTlong	+0.0100%	4h	0.04166	long leg	$20.4M	$98.2M	20x
Bybit SAGAUSDTshort	+0.0100%	4h	0.04167	+0.033%	$4.0M	$15.4M	20x
Gate SAGA_USDT	+0.0100%	4h	0.04183	+0.405%	$6.3M	$7.2M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04165	−0.027%	$2.8M	$4.3M	50x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.04172	+0.141%	—	$2.0M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGA	+0.0100%	4h	0.04175	+0.202%	$4K	$43K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.04165	−0.027%	$649	$178K	5x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0440%	1h	0.04179	+0.309%	$42K	$390K	25x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0713%	1h	0.04158	−0.196%	$3K	$124	10x	as long as short